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Now, employees can choose for EPS boost pension coverage within 4 months

employees who You haven’t chosen yet for  benefactor pension coverage Before 2014 the same can now be done jointly with Employers inside next four months. This comes after a Supreme Court order on the same support for the Employee Pension Plan (Amendment) of 2014.

On Friday, the Supreme Court struck down the condition in 2014 amendments employee contribution of 1.16% of salary exceeded R15,000 per month.

Now current EPS members (such as on September 1, 2014) can contribute up to 8.33 percent of Their “actual” salaries – like against 8.33 percent of Maximum pensionable salary R15,000 per month – about pension. this is way They can contribute higher And the also Get enhanced benefits, including higher Annual installment after retirement.

after ordering, trade Trade unions asked government to me call extraordinary meeting of Center board of trustees of Pension fund body EPFO for Quick execution of The same.

Harbhajan Singh Siddhu, Secretary General, Hind Mazdur Sobha told PTI, “The Supreme Court has given relief to subscribers of Employees Provident Fund Organization (EPFO) to choose for pension on higher earnings. Now we demand From government Immediately call a special Meeting of Central Council of (CBT) trustees headed by the Minister of Trade Union Labor to discuss the matter in Detailing and implementing relief granted to members.

Apart from this, SC also A male EPFO ​​can’t ask subscribers for Additional 1.16 percent of contribution of a wage for Selection pension on higher earnings without amending the existing law.

Court gave option of pension on higher earnings to me subscribers of Exempted savings funds also.

Another EPFO ​​Trustee and Vice President of All India of Bharatiya Mazdur Sangh (BMS) Sankari Malisham also Request an unusual meeting of The CBT. “there need to me call extraordinary meeting of Malesham told PTI that the CBT is to discuss the matter thoroughly and provide relief to the members.”

The Supreme Court said, “It is time to rehearse option Pursuant to clause 11 (4) of The scheme, under the circumstances, should stand still extended another time of four months. We give this direction in Playing sports of Our jurisdiction under Article 142 of the Constitution of India.”

Paragraph 11 (4) of EPS-95 . provides for members to choose for pension on higher earnings. window to choose for contribution on higher Earning was open to subscribers for six months from 1 September 2014.

(with input from agencies)

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Sallie Anderson
Sallie Anderson
Sallie works as the Writer at World Weekly News. She likes to write about the latest trends going on in our world and share it with our readers.

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